Ch.7 Strategic PlanningKey Points.ppt

Ch.7: Strategic PlanningKey Points Differentiate between objectives, strategies, and tactics in strategic planning Identify the six basic decisions in an advertising plan Explain how account planning works Objectives, Strategies, and Tactics Big Picture: a three-tiered process Basic Strategic Planning Decisions Annual advertising or IMC plan Outlines all the advertising or marketing communication activities Plansbook Campaign plan More tightly focused on solving a particular marketing communication problem Typical Plan Outline Situation analysis Key strategic decisions Media strategy Message strategy Other tools Evaluation of effectiveness Outline of an Advertising Campaign Outline of an Advertising Campaign Several Ways of Setting Budget Several Ways of Setting Budget Account Planner: The Creative Brief/Platform Explains the consumer insight and summarizes the basic strategy decisions Six major parts: Marketing objective Product Target audience The promise and support Brand personality Strategy statement * Objectives: What you want to accomplish Strategies: How to accomplish the objectives Tactics: Make the plan come to life ** Example: Objectives: To increase baking soda consumption Strategy:??? Adding new target market Increase repeated purchase by loyal consumers Introducing new ways of using a product Tactics Business Plan Marketing Plan Advertising Plan Figure 7.1: Strategic Planning from Top to Bottom (p. 182) I. Situation Analysis Background Research: Company and product history Product analysis and previous advertising analysis Consumer analysis Competitive analysis and their advertising analysis SWOT Analysis (Strengths, Weakness, Opportunities and Threats) Identify Key Problems and Opportunities II. Key Strategic Decisions Advertising/IMC Objectives and Strategies Target Audience Selection Brand Position: brand’s competitive advantage Brand Image and Personality Budget Budget: Total budget for the campaign: Media placement cost